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* Assets in "short" sterling ETFs double since Monday
* Investors using ETF to hedge risk: ETF Securities
By Atul Prakash
LONDON, June 23 (Reuters) - Retail investors wanting tohedge against weakness in the pound if Britain votes to leavethe European Union have pumped money into exchange traded funds(ETFs) that allow them to short the currency, taking assetsmanaged by such funds to a record high.
Total assets held by such ETFs touched $279.9million on Wednesday, sharply higher from $115.6 million onMonday, ETF Securities said in a note.
In contrast, "long" sterling positions were at$27.7 million, according to ETF Securities, which says it has a99 percent share in the European foreign exchange ETF market.
The threat of a possible British exit from the EuropeanUnion, or Brexit, has resulted in volatile moves in the sterlingmarket this year. Wednesday's polls by ComRes and YouGov showeda last-minute rise in support for Britain to remain in the EU.
Sterling slumped to a seven-year low in Februarybefore surging 6.8 percent in the following two months. It againslipped 5 percent from early May to mid-June, before bouncingback 6 percent following the publication of some pollsindicating a "remain" outcome in the June 23 referendum.
Niche ETFs are popular among retail investors who otherwisefind it expensive to short currencies or access complex tradesthat often require derivatives and leverage.
ETF Securities' currency exchange-traded products are basedon Morgan Stanley's foreign exchange indices, and use forwardcontracts and swaps to replicate the performance of theunderlying index. (Editing by Vikram Subhedar; Editing by Mark Heinriuch)